Clarity posts $6.8m profit

Clarity International has posted net profit of $6.385 million for the fiscal year ending June 30, 2001, 955 per cent higher than the previous year and 82 per cent ahead of the prospectus forecast, Clarity announced to the ASX.

Clarity's operating revenue for the 12-month period was $45 million. The company also had $8 million in cash reserves, a result driven by strong operations, the vendor said in an ASX statement.

Clarity develops network management and service provisioning products mainly for the telecommunications and utilities market. The vendor listed on the ASX in October 2000.

Clarity says its outlook for the 2002 financial year is "promising", and expects both revenue and net profit in the 2002 fiscal year to grow by 30 per cent over the 2001 year.

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